It costs a firm that sells blueberry jam $6 to sell a single jar of jam. This firm makes $10 in revenue from each jar of jam it sells. If this firm sells 10 jars of jam, what is its total profit?

Total profit = $40

Explanation:

Giving the following information:

It costs a firm that sells blueberry jam $6 to sell a single jar of jam. Selling price = $10

Number of units = 10

To obtain the total profit, we need to deduct the total cost to total revenue:

Sales = 10*10 = $100

Cost of goods sold = 10*6 = (60)

Total profit = $40